On Trial, Elon Musk Claims Saudi Arabia Covered ‘Ass’
Musk testifies that his SpaceX equity could have secured the deal on its own.
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Away Hires New Marketing Chief, Plans to Boost Traditional Ad Spending
Carla Dunham is the second hire the luggage brand has made for the CMO role in less than a year.
Amazon and Stripe Sign Agreement on Payments, Cloud
Amazon plans to increase its use of Stripe’s payments processing services, while Stripe will expand its use of Amazon Web Services.
Reddit Promotes Harold Klaje to Chief Revenue Officer
The company made several changes to its senior leadership as its ad sales team grows.
Microsoft Makes Multibillion-Dollar Investment in OpenAI
Microsoft will remain OpenAI’s exclusive cloud provider and deploy more of its technology across consumer and enterprise products, the companies said.
Spotify Lays Off 6% of Staff
Dawn Ostroff, Spotify’s content and advertising head, is also leaving the company.
Elliott Management Takes Stake in Salesforce
The activist investor has pushed for major changes in other tech giants.
Singapore’s Sequoia-Backed Startup Zilingo Set to Enter Liquidation
Zilingo, once considered a rising star in Southeast Asia's tech startup scene, fired its CEO last year amid a probe into its accounting practices.
Vice Media Is Up for Sale, Again
Vice Media is once again looking to sell all or parts of its business. The move comes as digital media outlets are struggling to grow revenue amid an economic downturn.
TikTok Staff Use ‘Heating’ Push to Promotes Specific Influencers and Brands
Employees use the feature to encourage certain influencers to partner with the company, a report says.
Amazon Web Services to Spend $35 Billion on Data Centers in Virginia
The money will be spent through 2040 and create 1,000 jobs, according to the state's governor.
Vox Media Lays Off 7% of Staff
The company cites worsening economic conditions amid a slowdown in the ad market as a reason for the cuts, which span all departments including editorial and revenue.
Tesla and Twitter Engineer Sheen Austin Has Left Both Firms
Austin announced his departure in an email to Tesla staffers on Thursday
Wayfair Slashes 18% of Corporate Workforce
The cuts are Wayfair’s second round of layoffs in six months as the company confronts slowing sales.
Top Genesis Creditors Include Marcelo Claure and Decentraland CFO
Genesis owes its 50 top creditors $3.4 billion. The list also includes customers of the Gemini Earn program, venture and asset management firm Mirana, crypto lender Babel Finance and crypto hedge fund Coincident Capital.
Genesis Files for Bankruptcy
The bankruptcy is the latest fallout from the collapse of the crypto market.
Google Cuts 12,000 Jobs
Google's cuts were expected, following cuts at other Alphabet units, and also followed big cuts made in recent days by Microsoft and Amazon.
EU Official Tells TikTok to Comply With New Digital Rules or Face Ban
The growing pressure from EU officials come as TikTok, owned by China's ByteDance, is grappling with a threat of a ban in the U.S.
Nexo Agrees to $45 Million Settlement with SEC, States Over Lending Product
The SEC sued Gemini and Genesis last week over a similar lending product it offered to Gemini customers.
Twitter Officially Bans Third-Party Clients
The ban, buried in an update to Twitter’s developer agreement on Thursday, came a week after the apps stopped working.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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